DHT (NYSE:DHT) Issues Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Key Points

• DHT beat quarterly earnings expectations, reporting EPS of $1.45 versus the $1.26 consensus and revenue of $290.34 million versus estimates of $258.12 million.
• Shares fell 0.6% to $20.55 during Monday trading despite the results.
• Analysts give DHT a consensus “Moderate Buy” rating with an average price target of $27; insiders have sold 554,007 shares worth about $11.3 million over the past 90 days.

DHT (NYSE:DHT - Get Free Report) released its earnings results on Monday. The shipping company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.19, FiscalAI reports. The company had revenue of $290.34 million for the quarter, compared to analyst estimates of $258.12 million. DHT had a net margin of 65.52% and a return on equity of 39.40%.

DHT Trading Down 0.6%

Shares of DHT stock traded down $0.13 during trading hours on Monday, reaching $20.55. The stock had a trading volume of 6,778,402 shares, compared to its average volume of 3,984,381. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 6.99 and a beta of -0.03. DHT has a 1 year low of $11.64 and a 1 year high of $26.91. The company has a current ratio of 3.64, a quick ratio of 3.32 and a debt-to-equity ratio of 0.29. The firm has a 50 day simple moving average of $22.81 and a two-hundred day simple moving average of $18.89.

Insider Buying and Selling at DHT

In related news, insider Jon Eglin sold 25,000 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $21.00, for a total value of $525,000.00. Following the completion of the sale, the insider directly owned 274,622 shares in the company, valued at approximately $5,767,062. This represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Laila Halvorsen sold 50,000 shares of the firm's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $20.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer directly owned 161,011 shares in the company, valued at $3,220,220. This trade represents a 23.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 554,007 shares of company stock worth $11,287,402. Company insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DHT shares. Weiss Ratings upgraded DHT from a "buy (b+)" rating to a "buy (a)" rating in a report on Thursday, October 8th. Evercore set a $26.00 target price on DHT in a research note on Tuesday, October 27th. Finally, BTIG Research increased their target price on DHT from $23.00 to $28.00 and gave the stock a "buy" rating in a research report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, DHT currently has an average rating of "Moderate Buy" and an average target price of $27.00.

DHT Company Profile

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